Mexicana Airlines applies for 90 day extension to bankruptcy protection; Relaunch in 3Q2011

Mexicana Airlines applied for a 90-day extension to its bankruptcy protection, to allow it to sign an agreement with creditors and resume operations (cnnexpansion.com, 24-Mar-2011). The existing protection under the Mexican Bankruptcy Act is due to expire on 01-Apr-2011. The carrier had hoped to resume operations in late Apr-2011, but is now reportedly targeting a 3Q2011 resumption. K Holdings, the company established to act as a holding company for the bankrupt carrier, has confirmed that there are seven groups interested in Mexicana, and it has received a number of serious offers.

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